Anyone who took offense to the Jim Rogers post earlier, I love the guy. I was making fun of CNBC, not him.
The Housing Time Bomb has a post (Hey Bulls: This Recession is Different) that I most completely agree with. Check it out.
I'm getting ready to go short tomorrow. Futures are red (not that they are anywhere near a reliable indicator for much of anything). More importantly, we are at that P&F resistance that I was talking about yesterday:
I'd look for resistance at 850, then 865/870, judging by the P&F. If the market decides to wipe out today's gains and head down to 815, I'd watch out below, especially on high volume.
Take a look at the 88 level on the SPY. It's running up into a descending trendline, as well as a previous reversal at 87.
PS: Unemployment Rate, among other stats, will be released on Friday. Be aware.
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